Albert Boscov to be inducted into Retailers Hall of Fame

READING — Albert “Al” Boscov will be inducted Thursday into the PA Retailers’ Association Hall of Fame. In fact, he is the very first inductee.

“Look at what he has meant to the retail industry in Pennsylvania, to the City of Reading, Berks County and the Commonwealth. He is a retail icon and a true American success story. What better person to honor than Albert Boscov,” said Brian Rider, CEO of the PA Retailers’ Association. Rider has known Boscov for more than 20 years.

The decision to induct Boscov as the first member of the PA Retailers’ Hall of Fame was made in the fall, when the organization’s board of directors decided to hold the event,

But the 83-year-old Boscov’s path to the hall of fame began when he was a child, learning from his father Solomon in the elder Boscov’s original store that opened in 1911 at North Ninth and Pike streets in Reading.

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Albert Boscov built the chain from that single store location when he joined the company in 1954, to the 41 stores currently in New York, Delaware, New Jersey, Maryland and Pennsylvania, including stores in Exton Square and Coventry malls. There are nearly 7,000 employees and the company has annual revenues of $1 billion. It is one of Pennsylvania’s oldest and most well-known family-owned department store chains.

There is just something about Boscov — the way he greets customers and talks with his sales associates. Rider said he makes customers feel welcome and has instilled that in his employees. His enthusiasm and warmth comes through. He is a friend and local celebrity to those he meets.

“Anybody who knows Albert Boscov thinks the world of him. He is so loved and respected by employees because of the way he treats them. He treats them with respect and dignity.” Rider said.

Rider estimates that 650 people will attend Thursday’s dinner at the Crowne Plaza in Reading. Governors Tom Corbett, Ed Rendell and Tom Ridge are the honorary co-chairmen of the event. Both Corbett and Rendell are slated to speak. Rider said that while Gov. Ridge is unable to attend, he has provided taped comments, as has U.S. Sen. Bob Casey.

“Al Boscov’s story is the story of the American dream: the son of immigrants who does well in business and does good among his fellow citizens,” said Gov. Corbett. “He’s everything that’s good about Pennsylvania.”

Rider said having the governors involved, “says a lot about Mr. Boscov’s life and legacy.”

The guest list for the Hall of Fame dinner includes other federal, state and local government officials as well as family, friends, business partners, vendors and suppliers. Additionally, PCN will be recording the event for broadcast possibly as early as Friday.

In 2006, Boscov and business partner and brother-in-law Edwin Lakin retired from the company, leaving the chain under the direction of Kenneth Lakin, Edwin’s son and Al’s nephew. The company purchased 10 mall locations from Federated Department Stores, an opportunity Boscov said got the company into financial trouble. In August 2008, the company filed for Chapter 11 protection.

In Nov. 2008, Boscov and Lakin were able to put together a deal to buy the company back, and bring it out of bankruptcy in Sept. 2009.

In an interview with the Mercury in Pottstown in December 2008, Boscov said he was “embarrassed by the bankruptcy. It was certainly upsetting to me, after spending years building the business.”

It is not just his business acumen that makes Boscov stand out. He is also known for his efforts to revitalize Reading’s downtown through projects like the Goggleworks and the Reading Movies 11 and IMAX.

Ten percent of the net proceeds from the Hall of Fame Dinner will be given to Boscov’s favorite charitable organization — Our City Reading. The organization acquires abandoned homes in Reading, refurbishes them and offers them to first-time home buyers who meet income eligibility requirements.

He was also a key player in January’s Berks County and Greater Reading Crime Summit. That meeting brought together local, state and federal officials along with area business leaders to discuss effective solutions to combat violent crime in the county.

“I have always been impressed by his ability to be successful, his down to earthiness, and his genuine likableness. There is not a pretentious bone in his body. I have dealt with lots of professionals and don’t know anyone who’s done as much for his local community,” Rider added. “He will be remembered as a successful business person and for his philanthropic efforts.”

Other awards being given out at the dinner include: Retailer of the Year, Independent Retailer of the Year, Rookie of the Year, Best Customer Service, Best Visual Merchandise, Most Community Service and Best Loss Prevention Partner.

Rider said the Retailers’ Association is planning to make the Hall of Fame Dinner an annual event.

For information about the PA Retailers’ Association or the dinner, contact them at info@paretailers.org or 717-233-7976, or by visiting paretailers.org.